Homework Answers
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| a. | Total direct manufacturing cost | = | $ 88,000 |
| b. | Total Indirect manufacturing cost | = | $ 166,000 |
| Workings: | |||
| a. | Direct material | = | $ 5.30 |
| Direct labor | = | $ 3.50 | |
| Direct manufacturing cost | = | $ 8.80 | |
| Total direct manufacturing cost | = | 10000 units X $8.80 | |
| = | $ 88,000 | ||
| b. | Variable manufacturing cost ($1.60 X 10000 units) | = | $ 16,000 |
| Fixed manufacturing cost | = | $ 1,50,000 | |
| Total Indirect manufacturing cost | = | $ 1,66,000 |
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Skolnick Corporation has provided the following information: Cost per Period Cost per Unit $5.30 $ 3.50...
During June, Briganti Corporation purchased $85,000 of raw materials on credit to add to its raw...
During June, Briganti Corporation purchased $85,000 of raw materials on credit to add to its raw materials inventory. A total of $70,000 of raw materials was requisitioned from the storeroom for use in production. These requisitioned raw materials included $10,000 of indirect materials, Required: Prepare journal entries to record the purchase of materials and their use in production. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal...
Lamed Corporation recorded the following transactions for the just completed month. a. $80,000 in raw materials...
Lamed Corporation recorded the following transactions for the just completed month. a. $80,000 in raw materials were purchased on account. b. $71,000 in raw materials were requisitioned for use in production. Of this amount, $62,000 was for direct materials and the remainder was for indirect materials c. Total labor wages of $112,000 were incurred. Of this amount, $101,000 was for direct labor and the remainder was for indirect labor d. Additional manufacturing overhead costs of $175,000 were incurred. Required: Record...
I ALWAYS THUMBS UP, THANKS! Larned Corporation recorded the following transactions for the just completed month....
I ALWAYS THUMBS UP, THANKS!
Larned Corporation recorded the following transactions for the just completed month. a. $78,000 in raw materials were purchased on account. b. $76,000 in raw materials were requisitioned for use in production. Of this amount, $63,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $108,000 were incurred. Of this amount, $100,200 was for direct labor and the remainder was for indirect labor. d. Additional manufacturing overhead costs of...
During June, Briganti Corporation purchased $88,000 of raw materials on credit to add to its raw...
During June, Briganti Corporation purchased $88,000 of raw
materials on credit to add to its raw materials inventory. A total
of $73,000 of raw materials was requisitioned from the storeroom
for use in production. These requisitioned raw materials included
$13,000 of indirect materials.
Required:
Prepare journal entries to record the purchase of materials and
their use in production. (If no entry is required for a
transaction/event, select "No journal entry required" in the first
account field.)
Journal entry worksheet 2...
Required information [The following information applies to the questions displayed below.) Bunnell Corporation is a manufacturer...
Required information [The following information applies to the questions displayed below.) Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were as follows: $50,500 Raw materials Work in process Finished goods $25,000 $38,100 The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's predetermined overhead rate of $11.75 per direct labor-hour was based on a cost formula that estimated $470,000 of total manufacturing overhead...
Skolnick Corporation has provided the following information: Cost per Period Cost per Unit $ 5.80 $...
Skolnick Corporation has provided the following information: Cost per Period Cost per Unit $ 5.80 $ 4.00 $ 2.10 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense $ 144,000 $ 1.30 $ 0.70 $ 41,400 Required: a. If 9,000 units are produced, what is the total amount of direct manufacturing cost incurred? (Do not round intermediate calculations.) b. If 9,000 units are produced, what is the total amount...
Skolnick Corporation has provided the following information: Cost per Period Cost per Unit $ 5.50 $...
Skolnick Corporation has provided the following information: Cost per Period Cost per Unit $ 5.50 $ 3.30 $ 2.10 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense $ 104,000 $ 1.10 $ 0.75 $ 34,400 Required: a. If 8,000 units are produced, what is the total amount of direct manufacturing cost incurred? (Do not round intermediate calculations.) b. If 8,000 units are produced, what is the total amount...
Skolnick Corporation has provided the following information: Cost per Period Cost per Unit $ 5.10 $...
Skolnick Corporation has provided the following information: Cost per Period Cost per Unit $ 5.10 $ 4.60 $ 1.70 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense $119,000 $1.30 $ 0.55 $ 37,400 Required: a. If 8,500 units are produced, what is the total amount of direct manufacturing cost incurred? (Do not round intermediate calculations.) b. If 8,500 units are produced, what is the total amount of indirect...
Required information [The following information applies to the questions displayed below.) Bunnell Corporation is a manufacturer...
Required information [The following information applies to the questions displayed below.) Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were as follows: Raw materials Work in process Finished goods $ 74,000 $ 31,800 $ 52,200 The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's predetermined overhead rate of $14.50 per direct labor-hour was based on a cost formula that estimated $580,000 of...
Required information (The following information applies to the questions displayed below.] Bunnell Corporation is a manufacturer...
Required information (The following information applies to the questions displayed below.] Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were as follows: Raw materials Work in process Finished goods $ 63,500 $ 32,000 $ 36,000 The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's predetermined overhead rate of $13.00 per direct labor-hour was based on a cost formula that estimated $520,000 of...
During June, Briganti Corporation purchased $85,000 of raw materials on credit to add to its raw materials inventory. A total of $70,000 of raw materials was requisitioned from the storeroom for use in production. These requisitioned raw materials included $10,000 of indirect materials, Required: Prepare journal entries to record the purchase of materials and their use in production. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal...
Lamed Corporation recorded the following transactions for the just completed month. a. $80,000 in raw materials were purchased on account. b. $71,000 in raw materials were requisitioned for use in production. Of this amount, $62,000 was for direct materials and the remainder was for indirect materials c. Total labor wages of $112,000 were incurred. Of this amount, $101,000 was for direct labor and the remainder was for indirect labor d. Additional manufacturing overhead costs of $175,000 were incurred. Required: Record...
I ALWAYS THUMBS UP, THANKS!
Larned Corporation recorded the following transactions for the just completed month. a. $78,000 in raw materials were purchased on account. b. $76,000 in raw materials were requisitioned for use in production. Of this amount, $63,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $108,000 were incurred. Of this amount, $100,200 was for direct labor and the remainder was for indirect labor. d. Additional manufacturing overhead costs of...
During June, Briganti Corporation purchased $88,000 of raw
materials on credit to add to its raw materials inventory. A total
of $73,000 of raw materials was requisitioned from the storeroom
for use in production. These requisitioned raw materials included
$13,000 of indirect materials.
Required:
Prepare journal entries to record the purchase of materials and
their use in production. (If no entry is required for a
transaction/event, select "No journal entry required" in the first
account field.)
Journal entry worksheet 2...
Required information [The following information applies to the questions displayed below.) Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were as follows: $50,500 Raw materials Work in process Finished goods $25,000 $38,100 The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's predetermined overhead rate of $11.75 per direct labor-hour was based on a cost formula that estimated $470,000 of total manufacturing overhead...
Skolnick Corporation has provided the following information: Cost per Period Cost per Unit $ 5.80 $ 4.00 $ 2.10 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense $ 144,000 $ 1.30 $ 0.70 $ 41,400 Required: a. If 9,000 units are produced, what is the total amount of direct manufacturing cost incurred? (Do not round intermediate calculations.) b. If 9,000 units are produced, what is the total amount...
Skolnick Corporation has provided the following information: Cost per Period Cost per Unit $ 5.50 $ 3.30 $ 2.10 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense $ 104,000 $ 1.10 $ 0.75 $ 34,400 Required: a. If 8,000 units are produced, what is the total amount of direct manufacturing cost incurred? (Do not round intermediate calculations.) b. If 8,000 units are produced, what is the total amount...
Skolnick Corporation has provided the following information: Cost per Period Cost per Unit $ 5.10 $ 4.60 $ 1.70 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense $119,000 $1.30 $ 0.55 $ 37,400 Required: a. If 8,500 units are produced, what is the total amount of direct manufacturing cost incurred? (Do not round intermediate calculations.) b. If 8,500 units are produced, what is the total amount of indirect...
Required information [The following information applies to the questions displayed below.) Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were as follows: Raw materials Work in process Finished goods $ 74,000 $ 31,800 $ 52,200 The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's predetermined overhead rate of $14.50 per direct labor-hour was based on a cost formula that estimated $580,000 of...
Required information (The following information applies to the questions displayed below.] Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were as follows: Raw materials Work in process Finished goods $ 63,500 $ 32,000 $ 36,000 The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's predetermined overhead rate of $13.00 per direct labor-hour was based on a cost formula that estimated $520,000 of...
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